The cost of adopting a child can be large, but there are ways to help lower the cost. Government agencies, adoption agencies and employers can sometimes help.
If you have made the decision to adopt, you know that it will be a costly endeavor. Adopting a child is not cheap and can cost anywhere from $5,000 to $40,000 and even more. Commonly, the most expensive adoptions are the international adoptions. Finding enough the money to fulfill this dream can prove difficult, especially when you have other obligations. There are many options to consider.Personal loans or refinancing your mortgage are common options. If you don’t have the money readily available, you can easily end up in debt, which is the last thing you want when you succeed in your effort to get a child into your home.
There are ways to make life easier.One of the best places to look for help is the North American Council on Adoptable Children. The NACAC provides help to families seeking to adopt in the United States and Canada, and is a good, reliable resource. The NACAC has a counseling program for professionals to educate parents on where to find financial assistance.You find more information at the organization’s website at www.nacac.org.
There is a plethora of information available at the Child Welfare Information Gateway. The government agency has information on public assistance, including a free downloadable packet to review. Download the packet at www.childwelfare.gov. This is a must read if you are considering adoption.
In the United States, there are many ways to help lower the cost of adoption. National and many state governments offer tax credits and other benefits for adopting parents. The tax credit does not cover any reimbursed money you may receive, but is applied after reimbursement, which is still a great help. To learn if you can benefit from a program like this contact you local child welfare program or tax department. You should also speak to your accountant to find out what help is available in your state.
Check with adoption agencies about any programs they offer. Some agencies may reduce their fee if you find the birth parents on your own, but this isn’t a guarantee. Check with each agency about its rules.
If you are adopting a foster child, there are usually programs available. This is also something to consider because these fees are normally kept to a minimum and may be waived entirely. Often the children that are placed through public agencies are special needs children. Each state has it’s own definition of special needs.
Adoptive parents are sometimes eligible to receive a grant to help offset the cost. There may be specific requirements for the adoption. Learn all you can about financial assistance for adoptions before you put too much effort into an adoption.
Some companies provide assistance to employees seeking to adopt. It is always worth checking into. Members of the United States Military can get help and should seek it.
Another method of searching for financial assistance for adoption is by using the Internet.Use a search engine, such as Yahoo!,Bing or Google. You can find information on grants on how to defray the cost of adoption. You can also find many websites that link you to government agencies that can help.
Help is there, you just have to find it.You don’t have to carry the burden alone.